Hi,

Please don’t judge me for being an idiot (or having a dumb ass reddit name…) – I already feel absolutely terrible about this because I KNOW I’ve gotten myself into this situation but I just need some help.

I’m young – 25; and I began accumulating debt to support me whilst at uni because my living expenses (rent and bills) exceeded my student loan and grant and I had to use a credit card to top me up – I couldn’t work as I didn’t live near home and due to various reasons I had to go back home most weekends to help my family. (Long story)

After five years I’ve finished uni with £14,000 worth of credit card debt, £2000 overdraft.

Each month I pay £450 on my credit cards but this is only the minimum because I can’t afford more without going into my overdraft.

After tax I take home £1100; I pay £200 in housekeeping to contribute to bills, food, internet etc.. and then on top of that I have a phone £40, gym, £36 (for my mental health as I suffer with stress and anxiety) and £190 for a car then £65 for insurance and £12 road tax. (My situation has changed since getting said car; I was working as a journalist and this was covered in my wage and now I’m not…) and I’m almost half-way to paying that off which is when I can hand it back).

I’m left with so little each month that I’m just treading water. I wake up with palpitations and sweats because I can’t afford to live but I don’t know what to do.

My credit cards are at their limit and so am I.

I’m trying to work extra so that I can try and pay them off but it’s not touching it as I have to use my cards once again to try and live.

What options are available / what would you recommend?

I have received a letter about an IVA – does anyone have any experience with this? I’ve heard of debt relief orders and debt management plans but if I’m honest it all sounds scary.

Do you think my credit card company, if I ask, will allow a monthly payment plan?

Friends of the internet, please help me. I’m genuinely a broken person who is broke.

submitted by /u/yomommaeatsfarts
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